Investing

Re "3 lessons, $50 billion," editorial, Dec. 18 So anyone who claims to make a profit in the stock market every year "should be viewed with the same suspicion as poker players who never lose." As a poker player and teacher, I can vouch: No one can win 100% of the time. (I teach my students to win more than 60% of their sessions.) There is one big difference between poker and investing. In poker you must make many important decisions -- skill involves making the best decisions in your own interest.

Sure, it's the kind of thing a giant corporation does to spiff up its reputation. But if it puts 50,000 books in kids' hands, it's not all bad. Capital One Bank is embarking on a winter promotion that will donate 50,000 books to schools across the country. The bank, through its Investing for Good project, has partnered with the nonprofits the Heart of America and Communities in Schools to create Book by Book . For every "like" Investing for Good gets on Facebook, it will donate another book to Book by Book.

Elia Richard Morris showed scant knowledge of geographical Hollywood and that he is out of touch with recent developments there ["Hollywood Revival? They're Dreaming!" Letters, Aug. 29]. He stated that Old Pasadena and Santa Monica's Third Street Promenade were successful due to their proximity to solid upper-middle-class residential neighborhoods. Hollywood is situated likewise, as it is surrounded by the very solidly upper-middle-class neighborhoods of Hancock Park, Los Feliz and Hollywood Hills, and is adjacent to the trendy and affluent West Hollywood.

Tom Petruno poses a number of rhetorical questions regarding the proposed capital gains tax reduction, "A Return to Rational Rates" (Jan 29): "If I risk my money in a productive business, shouldn't I be rewarded? Shouldn't one be rewarded for investing in a start-up business, or in the stock market?" I think, for most people, the answers would be yes. The key phrase here, however, is "productive business." I'm no economist, but I do know quite a number of wealthy people. And I can tell you, none of them invest in start-up businesses.

So now our public servants and advisers are trying to decide if Mr. (John M.W.) Moorlach and his staff are competent "to handle the $5-billion portfolio" of Orange County ("Adviser Urges Outside Money Manager for Now," April 7). That is a whole lot of money and caution is necessary in its investing. My concern is that the skill being sought is how to "maximize" return while "minimizing" risk. A noteworthy goal for any private investor, but this is public money for which, in my opinion, the guiding principle must be "minimize risk," period.

I have just read "Oscar Gold Diggers" (Nov. 16) and can only wonder how to make sense of the world we live in: The price tag reported for a one-time appearance by one of these film stars represents fully twice what I make in a year. And I am a high school teacher, passionately engaged in a supposedly worthy line of work. How do people get away with charging $5,000 for a haircut? Or, for that matter, how do the stars get away with insisting that they can have their hair cut only by the stylist who charges $5,000?

Re "MacArthur Park Crime Troubles Neighbors," Dec. 17: MacArthur Park is in the midst of a $3-million upgrade that includes refurbishment of the signal and band shell buildings. We are investing $9 million in transit funds at the MacArthur Park Station that, when completed, will serve as a destination point so that people can come and enjoy the various cultures and flavors of this neighborhood. Our commitment to MacArthur Park has spurred private investment in the area. I have initiated the process to begin a study on a MacArthur Park conservancy.

Re: "County Welfare Recipients Brace for State Cuts" (Aug. 3). A welfare recipient said that "a lot of people who really don't need the help have made things bad for those of us who do." Who does she think provides "needy people" with money, food, housing and medical costs? I am one of the nameless faces who has monies deducted from the paycheck that I have earned. Forty percent of my pay is gone by the end of the year. I am not sure what portion goes to providing means for other people, but in all honesty it is more than I want to "give."

The reporting on the Orange County Retirement Board members' trip to Europe has not been characteristic of the quality I have come to expect from The Times. The board is responsible for managing and investing $1.5 billion, a significant amount of money. The board members have the trust and gratitude of the employees of the County of Orange. They are responsible people. They put in a lot of time and hard work for minimal compensation. As a 19-year employee of the County of Orange and a member of the retirement system, I want the board members to be aware of where and how the system's dollars are invested.